Benchmark Electronics, Inc. (NYSE:BHE) Shares Acquired by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management significantly increased its holdings in Benchmark Electronics by 100,677.8% in Q1, now owning 27,210 shares valued at approximately $1.03 million.
• Benchmark Electronics' stock has been upgraded to a "buy" rating by analysts at Wall Street Zen, while other analysts have set varying target prices ranging from $46.00 to $50.00.
• The company recently declared a quarterly dividend of $0.17 per share, representing an annualized yield of 1.74% with a payout ratio of 46.90%.

Picton Mahoney Asset Management grew its holdings in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 100,677.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,210 shares of the technology company's stock after acquiring an additional 27,183 shares during the quarter. Picton Mahoney Asset Management owned 0.08% of Benchmark Electronics worth $1,035,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Benchmark Electronics by 45.2% during the 4th quarter. JPMorgan Chase & Co. now owns 815,499 shares of the technology company's stock valued at $37,024,000 after purchasing an additional 253,730 shares during the last quarter. Millennium Management LLC raised its stake in shares of Benchmark Electronics by 90.4% in the fourth quarter. Millennium Management LLC now owns 336,466 shares of the technology company's stock worth $15,276,000 after purchasing an additional 159,769 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in shares of Benchmark Electronics in the first quarter worth about $4,859,000. Norges Bank acquired a new stake in shares of Benchmark Electronics during the fourth quarter worth about $5,302,000. Finally, Allianz Asset Management GmbH boosted its position in Benchmark Electronics by 35.5% in the first quarter. Allianz Asset Management GmbH now owns 423,405 shares of the technology company's stock valued at $16,102,000 after buying an additional 111,022 shares during the last quarter. 92.29% of the stock is owned by hedge funds and other institutional investors.

Benchmark Electronics Price Performance

BHE stock traded down $0.75 during mid-day trading on Friday, reaching $37.75. 415,361 shares of the company's stock were exchanged, compared to its average volume of 217,893. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.36 and a quick ratio of 1.48. Benchmark Electronics, Inc. has a 12-month low of $30.73 and a 12-month high of $52.57. The stock's 50 day moving average is $38.58 and its 200 day moving average is $38.90. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 35.95 and a beta of 0.99.

Benchmark Electronics (NYSE:BHE - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.01. The firm had revenue of $642.34 million for the quarter, compared to analysts' expectations of $638.67 million. Benchmark Electronics had a net margin of 1.48% and a return on equity of 6.08%. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS.

Benchmark Electronics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Monday, June 30th. Benchmark Electronics's payout ratio is presently 64.76%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Benchmark Electronics from a "buy" rating to a "hold" rating in a research note on Saturday. Lake Street Capital dropped their price objective on shares of Benchmark Electronics from $52.00 to $46.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, Needham & Company LLC lowered their price target on shares of Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th.

About Benchmark Electronics

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.